No Longer Just Startups: Fortune 500 Companies Are Taking Co-Working Leases
Co-working spaces are thriving (WeWork's valuation just hit $15B) off freelancers and startups—and now big businesses are getting involved. Recent WeWork tenants include General Electric, KPMG, Merck and British publication the Guardian. And these companies aren't exactly startups—their average age is 155 years, Bloomberg reports.
Part of the corporate interest has to do with flexibility—co-working offers flexible leases that, although more expensive over time, save money up front. It also allows execs to focus more on the business, rather than managing long-term real estate costs.
Not to mention, employees love co-working. A Harvard Business Review report found that employees who shared offices reported they were “thriving” so often that researchers had to look at the data again. [Bloomberg]